Following Bernanke’s presentation, Sen. Chuck Schumer (D-NY) told The New York Times: “There is a clear recognition among members of both parties that we must act, and act soon.” Unfortunately, leaders in both the House and Senate are insisting on playing politics instead of focusing on the problem at hand. On Tuesday, Senate Majority Leader Harry Reid (D-NV) told the White House it must guarantee John McCain supports a bailout package if it hoped to pass the Senate. But then when McCain announced he would come to Washington to participate in negotiations, Reid flip flopped, issuing the following statement: “It would not be helpful at this time to have them come back during these negotiations and risk injecting presidential politics into this process or distract important talks about the future of our nation’s economy.” Reid can’t have it both ways. He can’t both demand McCain support the plan and then bar him from participating in its formation.

The House leaders are even more open about their political machinations. Speaker Nancy Pelosi (D-CA) told Democrats early this week she refuses to bring any plan to the floor unless a majority of the minority support it. The brazen refusal to offer any political leadership is stunning. Pelosi told the Wall Street Journal: “We are not taking ownership of this.”

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The Democrats have very skillfully engineered our economy from a free market capitalist to a socialist system over the past several years as is evident with the housing situation and bail outs. The Democratic Party leaders, Dodd, Frank, Pelosi and Reid continue to use income redistribution to achieve their goals of a socialist America. The Republicans have been asleep, and the electorate must wake up before the election or we can kiss capitalism good bye forever. Bill Ayers will be the next Secretary of the Treasury. It is also important to note that two Republican Senators, Bunning and DeMint have stood firm against this nonsense with little support from their own party.

Barney Frank’s housing bill of $300bn was recently passed and signed into law and according to Frank; this would solve the housing crisis by allowing homeowners whose homes were under water [more mortgage than equity] refinance at lower rates with reduced principles and remain in their homes. Secretary Paulson urged the urgent signing of this legislation and requested an additional $100bn for the bail out of Fannie and Freddie bringing the total to $400bn. Freddie and Fannie own the sub prime mortgages that these homeowners cannot pay. Bear Sterns received $35bn from the taxpayer, while AIG recently received $85bn for a bailout. This totals $520bn of taxpayer money to pay for loans that sub prime homeowners cannot pay. The administration is seeking for wall streeet firms $700bn to bring the total to $1.20 trillion. There is certainly copious overlap and duplicity in these bills with little oversight.

Consider these tax statistics: 10% of income earners pay 70% of all Federal Income taxes, the top 1% pay 35%, the lower bottom 50% pay just 3%, and the last 32% in 2005 paid no taxes at all. Therefore, it is evident that the Socialist Democrats have finally achieved their objective of income redistribution. No more slush funds or special bail outs, not MacDonalds or GM. There is just not much more to go around.

The liberals are bound and determind to sovietize the USA. And, it looks like they are succeeding. Their biggest fear is for Sarah Palin getting to Washington, and naming names and taking these entrenched bureaucrats to task, for stealing from tax payers for years, with our consent, by the way. Hey, we elected these theives, and put them in office for years.

[…] tried to claim they had completed a deal with the White House to address the Wall Street crisis. From the beginning, leaders on the left have both demanded the White House deliver conservative votes for any […]

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